Hong Kong, China shares rebound; banks, property have some respite

martes 11 de marzo de 2014 00:52 GYT
 

* HSI +0.2 pct, H-shares +0.3 pct, CSI300 +0.9 pct

* Mid-sized banks rise after comments by officials

* Vanke leads property rise on owner's reported stake purchase

* Not time to bargain hunt, Shanghai Comp could hit 1,600 - BoComm

By Clement Tan

HONG KONG, March 11 (Reuters) - Hong Kong and China shares rebounded early on Tuesday, led by some mid-sized bank stocks on expectation the country's annual parliamentary session will not unveil more aggressive reforms that could trim margins or restrict their lending.

But gains came in lackluster volumes, suggesting investors remain jittery after an index of large cap stocks listed in the mainland hit a five-year closing low on Monday. Some investors are advising investors to watch the commodities market, with Shanghai steel futures still languishing near record lows.

At midday, the CSI300 of the largest Shanghai and Shenzhen A-share listings was up 1 percent, while the Shanghai Composite Index rose 0.3 percent to return above the 2,000-point level at 2,005.3 points.

The Hang Seng Index rose 0.2 percent to 22,305.2 points, with resistance seen at its 200-day moving average at about 22,465.2. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong inched up 0.3 percent.   Continuación...